Cuomo: NYRA re-privatization, plus state regulation, is a winner

Gov. Andrew Cuomo on Wednesday said he is supportive of re-privatization of the once-beleaguered New York Racing Association, but signaled that a complete split from state regulation is a different story.

“The race tracks in this state, the horse racing tracks, were basically bankrupt,” he said following an unrelated event in the Bronx. “The state came in and effectively took it over, and it’s now operating, it’s operating well. My hope and the expectation was always to privatize it once the state got it on solid footing.”

“The state should continue to regulate it because we have a significant investment in NYRA,” he continued. “We subsidize by about $58 million a year. The state has to perform its role. But the best way to do it ultimately is to privatize it with continued state regulation.”

Cuomo’s comments come in the thick of the Saratoga meet as NYRA officials and community members focus energy on re-privatizing the organization, which operates Aqueduct, Belmont and Saratoga thoroughbred tracks.

Read more: http://blog.timesunion.com/capitol/archives/266524/cuomo-nyra-re-privatization-plus-state-regulation-is-a-winner/